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are in a complex economy that really relies on organizations to provide us with necessities. so we have to everything you and the longer-term, focus on stories that represent trends do not exaggerate noise and we have to get away from here. so fear play the role in the development of human societies in the earliest stages is encoded in our dna. but to evolve to this complex modern environment we live in, we have to update. so that's a sure question speaks to you. >> host: are you fearful venture capitalists? >> guest: you know, the opposite of that is maybe you say well, venture capitalists has to be inherently optimistic, you know, because why would you invest in some thing that the returns and so forth. telling about and prosperity, that is history easily care to race. this is not to miss the. from my stand point i think about optimism about the definition of an optimist if somebody was systematically latepromoter desiccate the true distribution of outcomes is. and the pessimist if someone has systematically really. they are there an hour in advance. anything could've happened. had to
on the economy. the washington post writes that the white house is ratcheting up pressure to avoid the fiscal cliff. on c-span tonight, we will bring you some of the house and senate debate from august of 2011, when congress passed the budget control act that triggered cuts to take effect on january 1. we will also hear from president obama, who signed the deficit reduction measure into law, part of the deal to raise the debt ceiling. first, senate majority leader harry reid and republican majority leader mitch mcconnell will talk on the senate floor about the january fiscal deadline. >> since our country voted to return president obama to the white house, i have spoken often about compromise. i remain optimistic that, when it comes to our economy, when it comes to protecting middle-class families from a whopping tax hike, republicans and democrats will be able to find common ground. president dwight eisenhower, a republican, once said, "people talk about the middle of the road as though it were unacceptable. there have to be compromises. the middle of the road is all usable space." so said w
've spent a good deal of your career working on, mr. hall, has been the improvement of the american economy. and tonight i'd like to join a couple of my colleagues on the democratic side to talk about the economy and specifically to talk about jobs and the things that we can do here in the a winning days of this congress -- wanning days of this congress to create some job opportunities. we've got some very heavy lifting here in congress in the next month and a half. everybody wants to talk about the fiscal cliff, some talk about austerity, bomb, others talk about what needs to be done to lift the debt limit. and all of these issues are before us. tax increases are not. but underlying all of that, foundational to all of that, is putting america back to work. getting americans back into their jobs. if we do that we will clearly increase employment and when you increase employment you always increase tax revenue to the federal government, to state governments and local governments. so our principle task as i see it and i think i'm joined by many of my colleagues, both democratic and republican
economy. and correspondent steve brown kicks off our coverage tonight. >> and on thanksgiving thursday to be first in the doors at midnight on plaque friday. >> and the unofficial start of the holiday shopping season. >> we have our route. >> and toys "r" us, target, home goods. >> kohl's, breakfast. >> black friday is definitely the kickoff to the playoffs for us, if you think of it as a sporting event and it's a big day, we always want to come out really showing our guests what we have here and have a great start to the playoffs, yeah. >> and with retail sales a huge factor in the not steady u.s. economy, the shopping is encouraging. >> we expect sales to rise 4% this year, a little lower than last year, but you know, we think we really believe that consumers are feeling a lot more confident this year. >>, but for all the folks battling the black friday crowds, do they get the best prices. >> sometimes i think you can get a better deal other times, black friday is kind after gimmicky things. up to a third of the door busters items today were cheaper earlier in the year and as far as
that could very well damage the economy. but the air of compromise among some notable republicans is definitely grabbing attention. the republicans' comments quickly caught fire. >> i will violate the pledge, long story short, for the good of the country, only if democrats will do entitlement reform. >> a pledge you signed 20 years ago, 18 years ago is for that congress. the world has changed and the economic situation is different. >> i'm not obligated on the pledge. i made tennesseans aware, i was just elected, that the only thing i'm monitoring is the oath that i take when i serve when i'm sworn in this january. >> reporter: gop lawmakers bluntly stating to alert the fiscal cliff, they're ready to break from grover norquist and the pledge he's got most republicans to sign to never raise taxes. norquist waste nod time hitting back on cnn's s"starting point" >> it doesn't pass the laugh test. if you want to go to your voters and say, i promised you this and i'm breaking that problem, you can have that conversation with them. but you don't have an argument with me. you've made a c
is to talk about the economy. but i would say something is. romney only emphasized -- very quickly. we cannot run only on an economic message. we have the full conservatives on social issues, on the national security, and on the economy. spent and aspirational. aspirational a mechanism where you are free to go as far as you want to go and to do what you want to do. and you are right about the hispanic community, especially they are very and trunk -- entrepreneurial. guess what. they start liking free government less. >> unfortunately, we're out of time to want to thank you all for coming today. please join me in thanking our panelists for this terrific presentation. [applause] [inaudible conversations] >> tonight in primetime we get a closer look at the presidential election. we have from president obama's former campaign manager and republican strategist steve smith. that's and university of delaware and starts at 8 p.m. eastern. here on c-span2, author mark friedman talks about how more baby boomers are entering into a second careers. he's the author of the big shi shift. that's also at 8 p
's the one that's most beneficial for our economy. >> reporter: larry, what i would say is tax increases does not necessarily, despite the rhetoric on both sides, and especially from democrats, does not necessarily have to mean increases in tax rates. it is possible, if you look at the estate tax, if you look at the treatment of dividends, capital gains and carried interest and take a look at loopholes and deductions to raise a significant amount of revenue from people at the top without changing the marginal rate, layery. >> very interesting. we're going to have senator tom coburn on that very subject later in the show. many thanks to john harwood coming from washington, d.c. now, with everyone in washington talking tax hikes, whatever happened to spending cuts? that's really my question. spending cuts and limited government and private sector free enterprise and growth. here now is cnbc contributor and democratic vat gist keith boykin, a former clinton white house aide and best selling author and talk show host larry elder, out with a new took, "dear father, dear son." larry already the sho
by the federal open market committee to support the economy. in addition, i will discuss important economic challenges our country faces as we close out 2012 and move into 2013, in particular the challenge of putting federal government finances on a sustainable path and the longer run while avoiding actions that would endanger the economic recovery in the near term. the economy is continuing to recover from the financial crisis and recession, but the pace of the recovery has been slower than fomc participants and others had hoped or anticipated when i spoke here last, three years ago. indeed, since the recession trough in 2009, growth in real gdp has averaged only a little more than 2% per year. similarly, the job market has improved over the past three years, but at a slow pace. the unemployment rate, which peaked at 10% in the fall of 2009, has since come down 2%, to just below 8%. this is a welcome decline, but it has taken a long time to achieve the progress, and the unemployment level is still well above its level prior to the onset of the recession and the level that our colleagues an
from us, depending on congress, to follow. that is a boost to his economy. again, he has to show results on the ground. he has to do two different things. show his government is legitimate to. and he has to show he can build jobs and clean up the trash and produce safety and the streets. >> there has been some successes as well. thank you for coming in. now to the mystery in the west bank, the body of yasser arafat was exhumed a few hours ago so the scientists can find out if the leader was poisoned to death. the move follows a documentary which reported that traces of the radioactive elements polonium had been found on his clothing. eight years after his death, what could this investigation uncovered? we have this report. >> it looks down from billboards and posters. the man who dominance -- dominated politics for decades. revered by most and reviled by many israelis, yasir arafat died in 2004 after falling suddenly and violently ill. eight years later, and beyond prying eyes, his tomb was opened and samples of his remains were removed. all of this after a tv documentary said it
to destroy the economy. no one in their right mind is going to allow that kind of increase to devastate the economy. lou: that's a good point. it's interesting that no one is talking about the fact that individual tax payment, 26% of the bush tax cuts over the past two years, the answer here is this. i just want to see everybody be happy. let me turn to benghazi. there is a palpable sense in washington dc right now. i don't believe the congress has the strength or the tools to actually penetrate the veil of denial and secrecy and opaqueness that is this administration and what it has done. now, when you think this is? >> the attorney general has to do this. lou: can you really see eric holder doing that? saying that we will investigate ourselves? >> if he doesn't do an independent investigation, you have the very people who have floated the idea of prosecuting general petraeus, there are all kinds of things they might do to him. there is all kinds of pressure that can be brought about. lou: are you saying that you don't think, i was speaking earlier with. rinsing, you don't think it's a
't heard before. could christmas actually be bad for the economy? d? on black friday, it doesn't matter, as long as we end up here at 5 a.m., or at homedepot.com, starting thursday. where prices have been cut, chopped, and sanded... on the most powerful tools that cut. ...chop... ...and sand. so we, or somebody on our list, can do the same. more saving. more doing. that's the power of the home depot. the early bird gets a special buy on a ryobi two-piece lithium-ion kit, just $99. >>> it's being called the thanksgiving creep. a record number of stores are getting a jump-start on the holiday shopping season by opening their doors tonight. nbc's kevin tibbles is live in chicago for us. he's getting ready to shop till he drops, always ready to do the deed for work. so, what you got there? how bad is it going to be out there today? >> alex, if you think i'm going to be in a mall today, you've got me confused with the other 83 million kevin tibbless who aren't in the phone book. but it is thanksgiving. happy thanksgiving to everyone. for those of you who do have that sort of deal bug, well,
on the horizon. that's where we begin this morning. how confident are you about the state of the u.s. economy? what steps are you taking to prepare for the potential impact if the u.s. goes off the fiscal cliff? give us a call this morning. you can also catch up with us on all your favorite social media sites, twitter or facebook. or e-mail us. thismorning to you on wednesday, november 21. we are talking about federal reserve chairman ben bernanke's comments yesterday about the fiscal cliff, and getting your thoughts on bthe u.s. economy. and this headline -- also, in the financial times -- to tell little bit more about ben bernanke's , and sister day we turn to david clarke of "politico," their financial services editor. thanks for joining us. guest: thanks for having me. host: what is making the most waves from his speech? guest: in the past he has warned that congress and the president's path to take care of the fiscal cliff. yesterday he said it is not simply doing it but how they do it, making a point that voters will be looking to see if they can do this in a cooperative manner, whether
. >> it is doing it now with china and japan. you have to of the biggest economies in the world in a nightmare situation that raises the fundamental question and up in in this myth that economics draws people together. part of the title today is "mischief or miscalculation?" during the cold war, you could have 17 different spheres of contact with the soviets and it two blew up, you could still have 15 others. there was a lot of heavy investment in figuring out how to court made, communicate, due to escalation and talk if things got bad. in this era, when i look at the amount of time -- the obama administration more so than the bush administration, when officials meet throughout the region, and the discussion attempt to correlate with china, there seems to be a lot of effort to try to coordinate. jim steinberg was the fourth member of this panel, looking at the island dispute and said, they were shocked and surprised by the level of miscommunication, miss assessment, and the dangers of that between china and japan. it raises the question of whether or not -- i agree. i know china wants respect
about how enacting comprehensive immigration reform can help on the jobs and economy issue. simply put, immigration reform would create a fair, humane and effective system that levels the playing field for all workers. right now our immigration system doesn't work for anyone but unscrupulous employers. we need to take the power out of the hands of those who are exploiting our current immigration situation and put it back in the hands of workers and fair and honest employers. if all workers have a legal status, employers can't skirt labor laws said they have to pay fair wages and abide the rules. immigration reform is the right thing to do as well as the economically smart thing to do. children should not have to live in fear of their parents deportation every day of their lives and some of the hardest working and most honorable people in our society should not have to be subject to exploitation and harassment. finally, i would just like to say that i'm truly appreciative of the support we have received from the urban league and other african-american leaders on this issue. i know that
say that the president proposed $1.6 trillion in new revenue? he wants to destroy the economy? come on. who in their right mind will allow that kind of increase to devastate the economy. it will not be hostess going out of business. >> lou: that is a good point and it is interesting, no one is talking about the fact that individual tax payments, taxpayer payments, internal revenue service, receipts from those taxpayers have risen 26% under the bush tax cuts, over the past two years which tells us that the answer here is growth. >> that's right. >> lou: i'm a simple fellow and i'd like to see everybody start talking to each other. let me turn to benghazi, because, the special prosecutor. there is a sense of hopelessness that is palpable in washington, d.c., right now. because, i don't believe the congress feels that it has the strength or the tools to actually penetrate the veil of denial and secrecy and opaqueness that is the administration, when it comes to what it has done. witness the last nine weeks. you are calling for a special prosecutor, and the fellow who has to do that work f
and then they looked at taxes, the economy, jobs, and they went to the president. >> what is an emerging trend in technology or how people consumer information that will have implications for 2014? the leading edge? >> that is a good question. the prevalence of people getting their information online has exploded. you look as swing voters and how little they are watching tv, we all had three places you got your news from. now they get their nightly news from 15 sources. jon stewart is an important moment from that. if you are a democratic-leaning woman, you love rachel maddow. getting to those people is harder. they are way more online than anyone. you have to go to where they are. campaigns will spend more and more of their money online than ever before. until it reaches parity with television. >> and you think television will still be big in 2016. >> it is going to be the dominant media but online is going to catch up very quickly. i think it already is catching up for young voters who are looking -- >> within a couple cycles? >> no question. i think the next election is going to have to dec
a lot of -- >> he's got a cleaner slate than four years ago with an economy. >> start building the sub structure to show actual progress. a debate in the white house is, like, it's a long term thing, health care, for instance, but showing results any time soon to people in need. well, that was the long term game. of course, the stimulus was the short term game, but, still, americans don't feel the effects. some of it is marketing, some of it is real, of a lot of what obama's done. i think the key now is, because of the re-election, he'll actually have time for americans just to go, well, i feel a little better, and it's substantive, it's real. my health insurance -- >> that was true of clinton, and david said in the conversation that clinton adopt seize the reigns of a -- didn't seize the reigns of a second term. >> seized something else instead. [laughter] [applause] >> that was good. >> the whole year before wasting 1997 before the scandal broke will. >> welfare reform -- >> asking dave because we're in biography here. i'm fascinated by them figuring out who they were in childhood. y
. it is is sapping the ability of the american economy to grow and it is topping -- zapping the ability of the average american to rise. until we look at the major core issues that are making the u.s. more attractive to business, we will go back to the fiscal cliff discussion over and over again. unless we can get our economy really moving and growing in the long run, these will just occur over and over again. we identified eight areas, as you mentioned, where we find there is broad consensus where we believe these things would really move the needle in a reasonable time frame, two, three, four years. there is some real bipartisan support. the first is the need of a sustainable budget compromise. that is widely accepted by all. two, easing on highly skilled immigration now. yes, when a broader immigration reform, but this is one of the abilities to really move rapidly to inject skills and to the economy and fill jobs badly need to be filled to sustain our growth. it is not a long-term solution and there, but it is a critical step we can take now that would really move the needle. we hav
on skills, giving a big boost to their economies. it's not as if america doesn't need these people. american companies are struggling to fill 3.6 million job opening, many of them in science-related fields. meanwhile foreign students receive half of their doctorates in foreign fields and most all will head home after graduation. new york city mayor michael bloomberg calls it the single biggest problem facing the economy and argues that our current approach is national suicide. the good news is we may finally be on the road to a solution. immigration reform has been a taboo topic for the last few years as large and vocal voices within the republican party with considerable public support have blocked any mention of reform. the words they've wanted to hear are border fence and deportation. that's why mitt romney activated a policy of self-deportation during the prisonal campaign. that's why he lost the spanish vote and asian vote to president obama by a landslide. president obama seems emboldened and the republicans chasened. so we have an opening for a deal. what should it look like? >> well,
the economy and if we do that on january 15th and it is a good deal, i would much prefer that over doing a bad deal on december 15th for face-saving on the january 1 fiscal cliff drop dead date. >> eliot: you're among the group that have been called the cliff jumpers. i don't know how you take that phrase but you've been willing to say let's go over the cliff. it will not be as dangerous and as cataclysmic as people are saying. >> i'm in good company. warren buffett. basically this artificial deadline is not a cliff. it is a slope. the bottom line is we've got to get a good deal. something that is sustainable and durable and not hit the panic button and then try to spin what is a bad deal as a good deal because that won't be sustainable after january 1st. >> eliot: that's not only correct on substance. unless we say that, the other side will stick us up and hold us to the deadline and get us to flinch at the end which unfortunately has been the history of the white house in the last couple of years. your wisdom there, i
1st or 11:59 the day before january 1st. it's already starting to impact the economy. whether it impacts consumers -- and we'll find out today, by the way, in terms of thanksgiving and what's that meant, whether consumers are coming out or not -- but thoorz the bigger issue that manufacturing has already started to slow down. people are starting to worry. it may end up in the economic numbers already, just the fact that we're having this debate. and then come january 1st, do we go over? what does that mean? is it the fiscal cliff? or does it look like the fiscal bungee cord? that's what some people are calling it. we go over for two weeks and then we snap back and get a deal and what does that deal look like? >> a lot of positive talk following the election. even bill kristol talking about let's feel free to raise taxes if it's part of a bigger deal. a lot of elections don't have consequences, midterm elections. this was supposed to be a status quo election. but something happened here. i think the fever is starting to break. >> absolutely. you're going to see it, i think, on
's not completely signed and stamped yet. the economy won't go into recession on january 2nd. >> really? j is that because so many people say that it will, jared. why do you think it won't? >> okay. because people conflate going over the cliff with going over and staying over the cliff and they're different. this is actually right out of the congressional budget office's document that many folks are quoting from including you guys just a second alg. the cbo prediction of a recession and unemployment going up to 9% is a scenario in which we go over the cliff and stay over the cliff for all of 2013. if we go over the cliff and we're able to essentially take away the kinds of very sharp tax increases and spending cuts that kick in right away, pretty quickly, say within a month or so, then it's not going to be great for the economy by any means but it won't be recessionary. >> jared, let's say that -- do you think the possibility of a stopgap, something that gets done to partially keep us from going over the cliff so we're just like hanging there at the beginning of the year and then we finish
an agreement by year's end. such a situation is feared to trigger a plunge in the economy. panetta warned that defense spending will be subject to drastic cuts if lawmakers failed to reach a consensus. >> the worst thing that could happen from my perspective is that they just kick the can down the road. all that would wind up doing is continuing to present a shadow over the defense department and for that matter, the rest of government. >> the defense department is already planning to reduce its budget by about $500 billion over the coming ten years. panetta has voiced concern that further cuts could undermine barack obama's new defense strategy that lays more emphasis on the asia pacific region. >>> japanese officials are scratching their heads about how to deal with sluggish trade. sales to foreign countries have plunged leaving japan in a trade deficit for the fourth straight month. finance ministry officials released preliminary figures shortly before the markets opened. the deficit came in at $6.7 billion. exports fell by 6.5% from a year earlier. exports have fallen five months in a
think there's a very serious damage done to the economy and to the world economy and the approaches bush took running up to this and that obama is put on steroids. this is in the middle of many problems to continue to not be ended. and the was a very big problem. to be much more serious about spending and it was in that way before. >> how do you fix? >> the house republicans already passed the budget that would work and pass the extension of the tax cuts they would work and you go in and have these conversations in front of the american people without about how romney is mean to dogs and causes cancer and actually talking about issues. and i think that is a debate that we need to have. we haven't had it, certainly didn't have it in this last election and we can have it now. it's very helpful. i think at the end of the day we will make the right decision partially because the democrats are terrified of the damage that obama has to drive them over and they wouldn't actually do that as obama threatened to throw us off a cliff year ago in august and didn't. >> we weren't going to get the neg
serious consequences for the entire economy. a lot of details here and they are coming up inside fox report. well, just hours remain in what is expected to be the biggest online shopping day ever. the research firm core score predicts americans will spend $1.5 billion online today alone this cyber monday. that's up 20% from last year. the national retail federation reports the average holiday shopper spent $423 this weekend in stores and online. total spending an estimated $59 billion. cheryl casone live from the fox business network with us tonight. cheryl, that's a big shot in the army for the economy. isn't it? >> it certainly is, shepard. we are seeing an allot of interest in online shopping today. initial numbers into fox business about how many people are out there spending this, today cyber monday. this is going to be already the biggest cyber monday ever when it comes to sales or revenues for the nation's he biggest retailers. number one amazon.com. number two wal-mart. 122 million people shopping today on web sites with the estimate looks like at this point we are going to b
travel is still popular even though the economy is sluggish. in terms of the tickets themselves yes they are up from earlier this month. if you're afraid of the big jumps we are still a holiday away from that. have a listen. >> over thanksgiving prices were relatively flat compared to thanksgiving 2011. where we do see a little bit of a jump is when we get to christmas. we see airfare prices 8% higher than we saw last christmas. >> maybe it's a big headache for folks that are traveling today is the number of canceled and delayed flights because of fog in the chicago area. it really impaired midway and owe hair. it's a domino system. a lot of the regional flights, everything you see up here in yellow is at least delayed. a lot of the canceled flights are from the midwest, springfield, missouri, and other points in the midwest. make sure you check with your airline if you're traveling today. heather: that is a lot of yellow on the screen. folks were waiving to you in the line, they didn't look some aggravated. hatch of the thanksgiving travelers will go by car instead. what is the imp
and it is going to take all of us working together because it would damage this economy if we have this kind of huge tax increase. but our democratic colleagues, all they want to talk about is, more taxes, more taxes, more revenue. they will not telling us where the money is going? they're not assuring that the money will be used to pay down the debt like it is suggested. so we need to see those numbers, what they planned, before any discussion is appropriate it seems to me. martha: you know, i mean, does take it from both sides. if you look at the republican side, basically they want to see cuts in spending and real entitlement reform and perhaps revenue that comes from the relief of some loopholes that are out there so that, bob corker i know has suggested maybe there be a $50,000 cap on the amount of deductions you can take in your taxes. republicans want to get there that way, not by raising any rates, correct? does that stand steady, that thought? >> i think that's a lot, where a lot of our members are. if you can simplify the tax code. make it more flat, more like a flat tax. eliminate
which means fewer jobs and that can drag our entire economy down. now, the good news is, there's a better option. right now, as we speak, congress can pass a law that would prevent a tax hike on the first $250,000 of everybody's income. everybody's. and that means that 98% of americans and 97% of small businesses wouldn't see their income tacks go up by a single dime. 98% of americans, 97% of small businesses would not see their income tacks go up by a single dime. even the wealthiest americans would still get a tax cut on the first $250,000 of their income. so it's not like folks who make more than 250 aren't getting a tax break, too. they are getting a tax break on the first 250 just like everybody else. families and small businesses would, therefore, be able to enjoy some peace of mind heading into christmas and heading into the new year. and it would give us more time than next year to work together on a comprehensive plan to bring down our deficits, to streamline our tax system, to do it in a balanced way, including asking the wealthiest americans to pay a little more so w
of our abilities to inject new skills into the economy to build jobs that need to be built in america to sustain our growth. it is critical step that we can take now. we have got to realign the corporate tax code. everyone agrees. we just did a survey that includes members of the general public. 70% of the general public believes we need to simplify. we cannot have the tax code that has higher rates and more complexity than anywhere else in the world. we have got to address the system that really hurts- innovation and high technology economy. we did not worry about those when we were doing well, but they are getting in the way of progress we have got to go through the process in a simpler and more logical and efficient way. this is the number one thing thousands of business people said was the biggest barrier to investing in the u.s. we have got to upgrade our infrastructure, but we have got to focus on those that are economically important. we have got to understand the things that are driving up the cost of doing business. we know what those are, but we need a plan for going forward
on in the distribution of the economy and china, conditions in russia. there are a number of problems anew environment. we have not developed a coherent approach because in the first term you learn your job. that is the challenge that the administration is facing. >> people look to the united states for leadership. they look to us because we have for so long been in a position where we've been able because of our resources and military strength, because of our values, we've been able to keep the peace. we have been able to make sure that enemies feared us and make sure allies could count on us. with we step back as we did during president obama's first term and i'm afraid we're going to do the next term ease back and you see when there a vacuum. people that don't share our interests diving into that vacuum. >> i traveled all over the middle east. every leader i talked to believe the united states is weak in leaving. they are having to accommodate to that eventuality. whether it be the saudis or you name the country they are accommodating to american weakness and withdrawal. that means that they accomm
empty fields. everyday you see all the ways all of us at us bank are helping grow our economy. lending more so companies and communities can expand, grow stronger and get back to work. everyday you see all of us serving you, around the country, around the corner. us bank. hurry in this saturday and sunday for great deals. like the lucid by lg, free. or the galaxy nexus by samsung, free. this weekend, get the best deals on the best devices on the best network. exclusively at verizon. [ gordon ] for some this line is a convenience. how you doing today? i'm good thanks. how are you? i'm good. [ gordon ] but for others, it's all they can afford. every day nearly nine million older americans don't have enough to eat. anything else? no, not today. join me, aarp, and aarp foundation in the drive to end hunger by visiting drivetoendhunger.org. get selsun blue for itchy dry scalp. strong itch-fighters target scalp itch while 5 moisturizers leave hair healthy. selsun blue. got a clue? get the blue. >>> good morning, washington, d.c. take a good look at the shot of the capitol building there. the
without concern for america's economy or standing in the world. we can't keep running trillion dollar deficits every year and throw a tantrum if someone suggests the taxpayers shouldn't keep turning every program they can dream up. let's take a look at the so-called thelma and louise democrats so he know who he's talking about. to say they are willing to go over the fiscal cliff, we have those who say they are not willing to support any reforms to entitlements. dick durbin says he would be willing to talk about it but only after a deal is struck. >> you have a difference of opinion in all political parties. i don't know many republicans who agree with mitch mcconnell. this is the guy who said his number one political goal was to get obama out of office. i think it's all positioning. you have got a bunch of democrats and mcconnell positioning themselves for negotiation. martha: tucker, what do you think? >> i think the republicans are being outnegotiated by an incredibly aggressive democratic party. they are demanding tax hikes on highest earner. an elevation in the debt limit which is
the economy in gaza as well. gregg: general jack keane who advised hillary clinton, thanks very much. >> happy thanksgiving, gregg. gregg: you too, sir. ainsley: thanks, greging. we're now getting new reaction from jesse jackson jr. stepping down. we will have all those details. gregg: and workers protesting at the los angeles international airport. the busiest travel day of the year, why the unions are now choosing this time to flex its muscle. >> happy thanksgiving, i love you, happy new year, and i'll be home soon. god bless. go, big red. gregg: developing right now in "america's newsroom," the bbc getting a new boss, tapping tony hall to head the british television network. he is the current chief executive of the royal opera house. >>> former french president nicolas sarkozy heads to court answering questions about suspicions he illegally accepted donations from france's richest woman to fund his 2007 election. he denies the allegations. >>> and the national park service says the statue of liberty, ellis island, both will not reopen to visit thers year. those sites have been closed for cl
:00. >> is it worth it to got a good deal? >> i think it is, especially in this economy. >> the 40-inch toshiba. >> i want a tv, it's like $180. >> there's a lot of people in front of you that want it too. >> they're going to have to fight me for it. >> reporter: everybody trying to get their hands on that tv. the doors are going to open up here at midnight. and you can believe it's going to be a mad dash in there. >>> people all over the bay area are trying to beat the rush by getting some shopping done tonight. and many stores are offering some pretty good deals. an ipod touch going for $149. this 50-inch tv $339, half off. the manager says there's even more bargains not listed in the store's ad. he will be handing out cliff bars to shoppers to give them more energy after waiting outside for several hours. >> we're trying to make it as easy as possible for everyone shopping today and as safe as possible. we'll be passing out ads so everybody knows what's on sale, and they'll be able to see it. you can text with this code her or text target, more tvs to this number here. and it'll give you all the
president obama's deep cuts will have a deep effect to our economy. he used the word dwast stating. snowing this how could anyone support depleting another $1.8 billion from an already stretched budget? president obama's climate chief defended the green fleet by arguing even a dollar rise in gasoline prices would cost d.o.d. $30 billion. believe my good friend, the senator from colorado said essentially the same thing. i agree with that. if every $1 rise in gas prices cost $30 million, a $27 increase would add up to about $660 million so that argument falls completely flat in realizing the economic angle is a political hoozer the obama administration has tried to say it's about national security in getting off of foreign oil. that's where i want to get. i spent several years as chairman of the environment and public works committee and several years as the ranking member. all during that time people keep saying the one thing we all agree on is we need to be off of foreign oil. we need not to be dependent upon the middle east. and yet right now we know and no one is going to refute this fact
rates which guess what, worked pretty darn well for the economy when clinton was president. >> i was surprised that david plouffe would bring up the idea of the grand bargain in the lame duck session of the congress. i think it's about revenue. this is about the legislation that they put in place about to expire after it was extended in the last lame duck session of the congress two years ago. and that was a two for one. one year of unemployment extension for two years of the bush tax cuts to take us to where we are right now. it seems to me there's a little bit too much wiggle room on the part of the white house to start talking about a granted bargain and chipping away at medicare and medicaid when you don't have to. now, do you read it that way? >> absolutely. and remember, this congress is worse than the one that's coming in. we're going to have a strength in hand in the senate and the house is actually even going to be a little bit better with more democrats and 11 of the worst republicans lost their re-election. so i think you know, it's ridiculous to me that they should be
the economy toppling back into recession. >> everyone i've had on this program, all the members of congress, have said to me, joanne, we have to get this done, of course it's going to get done. but we should remember it was a year ago today the grand bargain failed. so what's it going to take? >> you know, i think it might take the new congress being seated. i mean, if you think about it, you still have a lame duck congress so, while the election may have changed the atmosphere and sort of the story line for the members, the actual people themselves are still there. so they've not changed their ideologies at all. i think that the problem is that you have john boehner, president and mitch mcconnell negotiating with the exact same congress that they had when they couldn't make a deal the last time. so i think until the personnel change, i'm not sure you can get a deal. >> and juan kessler, the fact checker for "the washington post," has reported that, you know, you have to come from, like, some point point. you have to have a negotiating point to start with. he said democrats and republicans
. i am glad that the people that are in economy party on capitol hill have hearts as big as a montana sky because i'm sure they said, hey, it's cool. we all make mistakes. all of us on capitol hill, we all make mistakes from time to time and it's cool. so how did this work out after she said she was sorry? >> there's still another chance. ambassador susan rice is heading back to capitol hill today. >> i want to know what happened. >> well, i will tell you. she continued to defend her response on september 11th attack on the u.s. consulate in benghazi as a top pick to replace secretary of state hillary clinton. rice faces sort of an uphill battle because she failed to win over her harshest republican critics yesterday. >> i don't think it's an uphill battle. >> unless you want to be secretary of state for greenvil greenville, south carolina or mesa -- >> she requested this meeting was with specifically senators lindsey graham, kelly ayotte and -- >> they were upset. john mccain over the weekend. >> john mccain backed up. >> so it's really cool when she said i'm sorry. >> she did the br
. this is big one for retailers. an economy in recovery means consumers are holding tight to their pocketbooks forcing retailers to fight harder for every dollar you spend. >> this is last minute thanksgiving thing. >> walmart is hoping they will follow the lead and head out early. they made a move that has left many people scratching their heads. they are opening their doors two hours earlier last year at time when many are still finishing dinner and watching football. >> 8:00 p.m. on thanksgiving, i don't mind it for me but i feel bad for everybody working. >> he is not alone. workers at stores signed online petition asking for thanksgiving day off. there is a demonstration for what some are called a retaliation against the workers. >> she is here because she wants to be. we couldn't find a single employee to support it to open on thanksgiving. >> i'm walking on the street when i get off of work. >> they predict 41 million customers will shop on thanksgiving. coming up at 6:00 one difference we spotted in this parking lot at the same time last year. >> carolyn: a lot of window shopping at sa
holiday shoppers spent--this is an economy that we love to shop. on top of this when you look at black friday i do not dance at weddings or parades but everyone seems to have fun on black friday. >> give people credit because they're going out to shop and this is what you know that the economy is not that bad. >> we are spending money on things and this is proud of the bigger drives. >> when you look at all the spending that is born on. this cyber monday and this was about 67 years ago $1.5 billion are expected to be spent to that. billionaire warren buffett wants the so- called buffett rule if to have more teeth. this helps the bay area. amazon is going good and they are having to pay income tax. can we deliver more than four days and will give your familiar to. if companies are starting to see a little bit of a grind. watching was born on with the fiscal cliff he is calling from some really big high-tech. his stated that 30 percent of people and those making more than that >> keep the mind that warm the fed wants lower tax brackets and he thinks the prop. 13 best guess there's really
, that will impact the economy in a devastating way. that's why i don't think you see any republicans moving on that. jon: doug, what do you think about that? >> well the rates we're talking about raising they would go back to where they were under president clinton and during the '90s i think most people would agree we had a pretty strong economy. certainly stronger on that the one george bush and liz cheney's dad brought us. look at the end of the day, you know this is going, it will have to be balanced and to get to $4.4 trillion, that is the kind of target number that the president has put out there you can't just do it on spending cuts. i'm not sure if you can do it just on capping deductions. that is what these guys are paid big bucks for to figure out. sit at table, do the arithmetic, get a final deal. jon: we had 9/11 during the bush administration and that had huge impact on economy and wars after it. doug and ron, thank you both. we started a question about the discussion of grover norquist. he will be neil cavuto's guest on "your world" at four become eastern time. here what he has to say
to put more money on the table. there's ways, closing loopholes, growing the economy that we can do that. let's face it. it's a revenue problem. by definition, a deficit exists because you spend too much, and the president who is the leader of the country, you know, claims that the problem can all be solved by adding more revenue, which seems to me, a fundamental problem because you can keep adding money to the problem, but if the growth grows at such an exponential rate, you don't stop it. nevermind the deficit, you'll never come close to tackling the debt if there's not leadership from the white house on this issue. >> reporter: steven, you covered the issues, and you have for a very long time with distinction. at some point, it seems we're on a carosel of complaints and empirical evidence that does not change and the argument does not change. that is, we have a trillion dollar problem in terms of the deficit, a $16 trillion problem in terms of the debt, and we've got two parties that for all the world are acting as though we think we got 300 million americans in the country too dumb t
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